S-Africa states it does not pose any trade threat to US economy
(MENAFN) South Africa stated on Monday that it does not pose any trade threat to the US economy or national security.
In a statement from its Foreign Ministry, South Africa emphasized its focus on trade deals that promote value addition and industrialization, rather than exploitative practices reminiscent of colonial-era resource extraction.
The ministry highlighted that South African exports complement rather than compete with US products by supplying essential industrial materials and off-season agricultural goods that fill market needs without displacing domestic producers.
South Africa is not only a trading partner but also a significant investor in the US, with its companies supporting American jobs. Similarly, over 600 US companies operate in South Africa, contributing to industrial growth and employment there.
The statement pointed out that US calculations of the trade deficit with South Africa often overlook the US’s surplus in services and the complementary nature of their trade and investment relations.
“Our objective is to maintain and expand these mutually beneficial partnerships,” the statement added.
Starting August 8, the US—South Africa’s third-largest trading partner after the EU and China—plans to impose unilateral tariffs of 30% on South African imports.
Acknowledging the shifting global trade environment and the need for resilience, President Cyril Ramaphosa cautioned against complacency.
“As a government, we are committed to ongoing dialogue with the US and strengthening trade resilience,” Ramaphosa said, urging South Africa to adapt to the “increasingly turbulent challenges” in international trade.
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